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TANDEM FEDERAL CREDIT UNION

Jun, 30, 2023 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $23.53 million in total assets. Opened 83 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,484 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TANDEM FEDERAL CREDIT UNION
Address:
(Main Office)
21043 Mound Rd
WARREN, MI 48091-2903
Phone:(586) 759-5050
Fax:(586) 759-5053
Website:https://www.tandemfcu.com
Branches:1 branch locations
Members:2,484
Credit Union Type:Federal Credit Union
Charter Number:4787
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1941
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$23,525,850
CEO/Manager:Deirdre Taylor
Chairperson:Patricia Swann-Brown

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 872,394
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,686,044
 Unsecured Loans 1,625,970
 Other Loans 3,888,968
 TOTAL LOANS 8,200,982
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -44,447
 Land And Building 223,522
 Other Fixed Assets 105,805
 NCUSIF Deposit 209,978
 All Other Assets 0
  TOTAL ASSETS 23,525,850
LIABILITIES & CAPITAL:  
 Dividends Payable 1,792
 Notes & Interest Payable 250,000
 Accounts Payable & Other Liabilities 81,328
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,524,039
 Regular shares 16,730,717
 All Other Shares & Deposits 1,400,166
  TOTAL SHARES & DEPOSITS 20,654,922
  TOTAL LIABILITIES 20,988,042
 Regular Reserve 0
 Other Reserves -1,614,060
 Undivided Earnings 4,151,868
  TOTAL EQUITY 2,537,808
  TOTAL LIABILITIES, SHARES, & EQUITY 23,525,850
INCOME & EXPENSE  
 Loan Income 360,631
 Investment Income 183,677
 Other Income 170,745
 Total Employee Compensation & Benefits 266,255
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 509,610
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 361
 Cost of Funds 25,445
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 26,328
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